THE CRYPTOBASE

Eos Usurps Litecoin For Fifth Spot Among Cryptos

Eos Usurps Litecoin For Fifth Spot Among Cryptos

Eos, the cryptocurrency backing the eos.ios platform, vaulted into the fifth spot in terms of market capitalization among digital currencies. After surging more than 30% over the past 24 hours to race to a market value of $7.1 billion, EOS surpassed Litecoin as the fifth-largest digital currency.

At this writing, EOS had a market value of $6.91 billion, just ahead of Litecoin’s $6.84 billion. The four largest digital currencies are Bitcoin, Ethereum, Ripple and Bitcoin Cash.

Courtesy: Coinmarketcap.com

“Currently, there is no direct way to buy EOS with a credit card, debit card, or bank account on any US Exchange. The cheapest and most efficient way to obtain EOS is to first purchase Ethereum or Bitcoin through Coinbase (Currently Ethereum offers a much lower transfer and exchange fee than Bitcoin),” Cryptobase.io reported earlier this year.

What Sparked the EOS Surge

The rise in eos market value is undoubtedly impressive. In late January, it was merely the tenth-largest cryptocurrency before it ascended to the ninth spot in mid-February. Less than two months, later eos is in the fifth spot. As is the case with many crypto spikes, speculation about favorable news swirled, prompting the eos run-up.

“A group of developers who also claim involvement with the eos project are planning to distribute one eosDAC token to all accounts with at least 100 eos tokens at 1 a.m. UTC April 15, or 9 p.m. ET Saturday,” according to CNBC.

Some market observers believe EOS could be a credible rival to Ethereum and that the former could enhance adoption of cryptocurrencies.

Earlier this month, Block.one, the developer behind the pioneering blockchain software EOSIO, announced the formation of a $200 million venture fund known as EOS Global.

“EOS Global will make strategic investments in Asia-focused projects utilizing EOSIO, and is the fourth injection of capital through Block.one’s EOS VC initiative which now totals $600 million,” according to Block.one.

Top Cryptocurrencies to Buy in 2018

The cryptocurrency world is more buoyant than ever, and with new tokens and platforms being introduced regularly, it can sometimes be difficult to discern which ones are good to buy and which ones should be left alone. To help you decide which cryptocurrency to buy we have compiled a list of crypto tokens that might be worthy of your consideration and have potential in 2018.

Bitcoin

Bitcoin suffered a rocky beginning in 2018. After surging significantly in value, the price of Bitcoin dropped. But it should never be discounted as a currency. It has been on the market for many years, made many people rich and is now enjoying widespread popularity. With the blockchain technology being implemented in many practical ways, the world over the currency is set to have continued success as 2018 draws on. During Q1 and Q2, it has been recovering from its previous setbacks.

Litecoin

Like Bitcoin, Litecoin had a pretty devastating start in 2018 – the price plummeted as investor confidence dropped. Now it is also gradually recovering lost ground in the market. Many crypto enthusiasts are buying Litecoin because it is a faster alternative to Bitcoin and the price is still relatively low, which makes it possible to purchase the coin in larger sums than its major counterpart.

Ripple is an unusual altcoin with a lot of real-world application and potential. The platform underlying Ripple is already being integrated across the world by banks and financial institutions. The coin itself is thriving because there is so much real-world faith in its crypto platform. With American Express using the Ripple platform, many other large financial institutions are set to follow soon. This is definitely a token to keep your eye on, and if you think it is a sound investment, consider Ripple as an option to diversify your portfolio.

Ether

Another of the big hitters that is going from strength to strength is Ether which operates on the Ethereum blockchain. This blockchain is utilized by many companies, and because of its continued success in the commercial markets, the token has grown in value fairly consistently. Make sure you check upcoming Ethereum news as it regularly updates businesses, investors and users with any information that could prove beneficial for those using the platform and the token.

Stellar is a cryptocurrency that is aiming to overtake Ripple and compete in the financial marketplace arena. Its sole goal is to integrate fully with the financial world and provide a viable platform that connects financial institutions the world over. It’s no mean feat considering the big names already using the Ripple platform, but Stellar has grown steadily and is refusing to go away, what’s more, it is beginning to make waves among smaller financial institutions and is definitely not a coin to discount. Watch this space!

Dogecoin has long been the outsider to the crypto community. Initially created as a parody of the large cryptos and with an iconic and lovable dog on its logo, it picked up popularity quickly and is now considered one of the main crypto contenders. The investors have begun to take the coin more seriously, and in January it reached a staggering $2 billion in market capitalization. Not bad for a coin that initially started as a prank. Dogecoin isn’t thought of as a joke anymore though, it is now taken as a serious currency with a humorous edge.

Now we delve into the murky and muddied depths of the crypto world with our next entry – Zcash. The popularity of this coin is derived from its anonymity when transacting, something that has been heralded by the black market and dark web and scorned by financial regulators and law enforcement worldwide. It continues to be used widely and is performing well in terms of growth, so this coin shouldn’t be brushed aside because of its reputation. Plenty of reputable investors and users love Zcash, and it has thus far weathered the storm of scrutiny.

Dash is an innovative Crypto that doesn’t actually try that hard to compete with Bitcoin or the other altcoins, instead, their focus is on creating a crypto alternative to the likes of PayPal. Dash is a platform that aims to be accessible to everyone and anyone, whether or not you are actively involved in the crypto community. It has performed relatively well, and although it is a long way off of rivalling PayPal, it has gained a portion of the PayPal market which is really an uphill struggle.

Cardano is a new kid on the block, but it has so far managed to earn trust of many investors and hit the list of 10 largest cryptocurrencies by market cap. The team behind Cardano aims to create a distributed network that is “true to the original vision of Satoshi Nakamoto”. The project is now well under development, but some cryptocurrency enthusiasts already believe that Cardano might cause a stir to the whole industry.

Crypto Report – June 26, 2018

Tether Has A Big Week

Crypto startup Tether issued another $250 Million in new tokens on Monday. This latest release of USDT has sparked some speculation that Bitcoin (BTC) could be starting a rally soon after falling just below $6500 over the last few weeks.

While Tether has recently been involved in its fair share of controversy, they recently cooperated with a legal firm to release a report showing proof that USDT was fully backed by physical US dollars stored in the startups bank account.

While this was not a full audit, it shows that Tether is taking the important steps to show they are a legit startup and not involved in Bitcoin price manipulation. Tether is currently the 11th largest cryptocurrency with a circulating market cap of more than 2.6 billion.

Robinhood May Be Launching Cryptocurrency Wallet

Commission free trading app Robinhood recently listed a job advert looking for a “Crypto Engineer” capable of adding new functionality and features to the company’s crypto wallet.

According to Robinhood (currently sitting at an evaluation of $5.6 Billion), the number one requested feature is the ability to move cryptocurrencies from other sources into the Robinhood app. By offering a crypto wallet Robinhood would also be able to provide its customers with an secure way to store assets.

Independence Day Is Here For Tron (TRX)

Tenth-largest cryptocurrency Tron has activate its main net after a month long migration to its own independent blockchain.

“TRON is founded on a community of active users who should have their voices heard,” said Justin Sun, founder and CEO of the Tron Foundation. “The Super Representative Election is the key democratic feature of Independence Day that gives each TRON user a say in the blockchain’s future, and a hands-on role in the way that future will be built.”

Coinbase Launches Index Fund

The index fund is targeted towards large investors, the Coinbase index fund is open for investments with a minimum $250,000 deposit.

The fund gives investors access to all the cryptocurrencies currently trading on Coinbase, which at press time includes Bitcoin, Bitcoin Cash, Litecoin, Ethereum and Ethereum Classic.

Currently the index fund is only open to investors in The United States.

SEC Clarifies Ethereum And Bitcoin Not Securities

The Director of the Division of Corporation Finance at the SEC said during a speech at the Yahoo Finance All Markets Summit that Ether and Bitcoin are not classified as securities as they do not benefit a single organization or company.

It is uncertain how the SEC would seek to regulate a security that, over time, transforms into a currency or from a currency into a security, but this concession from the Commission is important for the crypto space as it provides some needed guidance to the marketplace.